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How to Request Modifications From Issuers

Overview​

As a broker on the WhiteLabel Community Deals Platform, you'll frequently encounter deals that require modifications before they can be approved. Effectively communicating needed changes to issuers is crucial for maintaining deal quality, ensuring regulatory compliance, and creating a positive working relationship. This guide will walk you through the process of requesting modifications from issuers in a clear, constructive, and efficient manner.

Prerequisites​

Before requesting modifications from issuers, you should:

  • Have an active broker account on the platform
  • Have thoroughly reviewed the deal details and documentation
  • Have identified specific issues or areas requiring improvement
  • Understand the platform's communication tools and workflow
  • Be prepared to explain the reasoning behind your modification requests

Step-by-Step Instructions​

Step 1: Identify Necessary Modifications​

  1. During your review process, identify all issues requiring modification:

    • Missing or incomplete documentation
    • Compliance concerns
    • Unclear or inconsistent information
    • Inadequate disclosures
    • Formatting or presentation issues

  2. Categorize issues by severity:

    • Critical issues that must be fixed before approval
    • Important improvements that would significantly enhance the deal
    • Minor suggestions that would be beneficial but aren't essential

Step 2: Access the Deal Comments Interface​

  1. From the Broker Dashboard, access the pending deal requiring modifications
  2. On the Deal Approval page, click on the "Comments" tab
  3. This will display the comment interface where you can communicate with the issuer
  4. Review any existing comments or conversation history

Step 3: Draft Clear Modification Requests​

  1. Click on the "Comment" button to open the comment editor

  2. Draft your modification requests following these guidelines:

    • Be specific about what needs to be changed
    • Explain why the change is necessary
    • Provide clear instructions on how to make the change
    • Organize multiple requests logically (by document, by importance, etc.)
    • Use professional, constructive language

  3. Example of a well-structured modification request:

    Please make the following modifications to your offering:

    1. CRITICAL - Private Placement Memorandum:
       - Expand the Risk Factors section to include industry competition risks
       - Add executive biographies to the Management section
       - Update financial projections to include Q1 2025 results

    2. IMPORTANT - Subscription Agreement:
       - Add language regarding transfer restrictions
       - Include minimum investment amount

    3. SUGGESTED - General:
       - Consider adding a more detailed business plan
       - Improve formatting consistency across documents

    These changes are necessary to meet regulatory requirements and provide investors with complete information. Please resubmit the updated documents through the platform.

Step 4: Provide Specific Guidance​

  1. For each requested modification, consider providing:

    • Exact location where changes are needed (document, page, section)
    • Sample language or templates if appropriate
    • References to relevant regulations or platform requirements
    • Examples from successful deals (without breaching confidentiality)

  2. This specific guidance helps issuers understand exactly what's expected

Step 5: Set Clear Expectations​

  1. Include information about:

    • Which modifications are mandatory vs. suggested
    • The expected timeline for making changes
    • How to resubmit updated materials
    • The review process after resubmission

  2. Example:

    Please address all CRITICAL and IMPORTANT items within 5 business days. 
    After making these changes, upload the revised documents to the platform 
    and notify us through the comments section. We'll review your updates 
    within 3 business days of resubmission.

Step 6: Offer Assistance​

  1. Indicate your willingness to help with the modification process:

    • Offer to clarify any questions about the requested changes
    • Provide additional guidance if needed
    • Suggest resources that might be helpful

  2. Example:

    If you have any questions about these requested modifications, 
    please don't hesitate to ask in the comments section. I'm happy 
    to provide additional clarification or guidance.

Step 7: Submit Your Modification Requests​

  1. Review your complete message for clarity, tone, and completeness
  2. Click the "Submit" or "Send" button to post your comments
  3. The issuer will be notified according to their notification settings

Step 8: Monitor for Issuer Response​

  1. Check the platform regularly for issuer responses

  2. When the issuer responds:

    • Answer any questions they've asked
    • Clarify any points of confusion
    • Acknowledge their feedback

  3. Maintain prompt communication to keep the process moving efficiently

Step 9: Review Resubmitted Materials​

  1. When the issuer resubmits updated materials:

    • Review all changes to verify they address your requests
    • Check that no new issues have been introduced
    • Verify that all critical and important modifications have been made

  2. Use the platform's document comparison tools if available to identify changes

Step 10: Provide Feedback on Modifications​

  1. After reviewing the resubmitted materials:

    • Acknowledge the changes that have been successfully made
    • Identify any outstanding issues that still need addressing
    • Provide feedback on the quality of the modifications

  2. Example:

    Thank you for addressing most of the requested modifications. The expanded 
    Risk Factors section and updated financial projections look good. However, 
    the executive biographies in the Management section still need more detail, 
    particularly regarding relevant industry experience. Please update this 
    section and resubmit.

Step 11: Iterate Until Resolution​

  1. Continue the modification and review process until:

    • All critical issues have been resolved
    • All important improvements have been addressed
    • The deal meets approval standards

  2. Document each iteration of the process for your records

Step 12: Proceed to Approval or Rejection​

  1. Once all modification requests have been addressed:

    • Proceed to approval if the deal now meets all requirements
    • Consider rejection if critical issues remain unresolved after multiple attempts

  2. Communicate your final decision clearly to the issuer

Best Practices​

  • Be Comprehensive: Include all needed modifications in your initial request when possible
  • Prioritize Issues: Clearly indicate which modifications are most critical
  • Be Specific: Provide exact details about what needs to be changed and where
  • Explain Why: Help issuers understand the reasoning behind your requests
  • Be Constructive: Focus on solutions rather than just pointing out problems
  • Maintain Professionalism: Keep all communication courteous and respectful
  • Document Everything: Keep records of all modification requests and responses
  • Be Responsive: Reply promptly to issuer questions about requested changes
  • Be Consistent: Apply the same standards to all deals
  • Be Reasonable: Set realistic expectations for the scope and timeline of modifications

Troubleshooting​

Common Issues​

  1. Issuer Misunderstands Requests

    • Solution: Clarify your requests with more specific examples
    • Solution: Break down complex requests into smaller, clearer steps
    • Solution: Offer a call or video conference for complex situations

  2. Issuer Pushback on Modifications

    • Solution: Clearly explain the regulatory or platform requirements necessitating the change
    • Solution: Provide examples of how similar issues have been handled in other deals
    • Solution: Distinguish between mandatory changes and suggestions

  3. Partial or Inadequate Modifications

    • Solution: Provide specific feedback on why the changes are insufficient
    • Solution: Offer more detailed guidance on what would meet requirements
    • Solution: Consider providing templates or examples if appropriate

  4. Excessive Revision Cycles

    • Solution: Schedule a direct conversation to resolve outstanding issues
    • Solution: Provide clearer, more comprehensive guidance
    • Solution: Consider if the deal fundamentally needs too many changes to be viable

  5. New Issues in Resubmission

    • Solution: Clearly identify new issues that have been introduced
    • Solution: Ask the issuer to revert changes that created new problems
    • Solution: Provide guidance on how to address both original and new issues

Getting Help​

If you encounter challenges in the modification request process:

  1. Navigate to the /support Support center by clicking on the "Support" link in the main navigation
  2. Select the appropriate category for your issue
  3. Provide specific details about your challenge
  4. Submit your support request
  5. Support staff will respond through the platform's notification system